As a seasoned analyst with over two decades of experience in the financial markets, I find the recent developments at Victory Securities intriguing and potentially game-changing for the Hong Kong crypto landscape.
Winning Securities, a licensed Hong Kong cryptocurrency broker, is set to pioneer the introduction of cash-settled virtual asset structured products for professional investors in the market.
On November 4th, Victory Securities revealed their intentions to introduce digital asset-structured investment products tailored for experienced investors before the year’s end.
In simpler terms, Victory became the first licensed broker in Hong Kong to offer cash-settled virtual asset structured products for investment, as they received approval from the Securities and Futures Commission.
As a researcher exploring investment opportunities, I can express that Virtual Asset Structured Products offer an intriguing avenue for potential increased yields, contingent upon particular market circumstances. Furthermore, these products provide a means for investors to mitigate risks associated with market fluctuations and the volatility of virtual assets.
In the previous year, it was announced by Victory Securities that they had received authorization from the Hong Kong Securities and Futures Commission to provide virtual asset trading and advisory services to individual investors.
Moreover, Victory plans to extend specialized offerings tailored for stablecoin owners, enabling them to generate relatively steady income via specific products and services using their brokerage accounts.
Earlier, clients could invest in money market funds via the VictoryX mobile app, but now, for the first time, the company is providing an opportunity for stablecoin owners to generate additional income.
Both products are expected to launch by the end of this year.
Currently, as mentioned by Kennix Chan, the Executive Director of Victory Securities, there are limited choices available for government-regulated strategic investment products, particularly within the realm of virtual asset investments, in Hong Kong.
According to Chan, the approval given to Victory Securities to promote virtual asset-structured products is a significant move that propels Hong Kong towards establishing a complete virtual asset infrastructure.
By October 28th, Eric Yip, the Executive Director for Intermediaries at the Securities and Futures Commission (SFC) in Hong Kong, announced that they intend to publish a complete list of cryptocurrency exchanges eligible for full licensing before the end of the year.
Furthermore, Hong Kong regulatory bodies plan to establish a consultation committee for license-holding exchanges, aiming to preserve collaborative initiatives expected to be in operation by early 2025.
On the very same day, it was revealed that Hong Kong Exchanges and Clearing Limited intended to initiate a Virtual Asset Index Series on November 15, 2024.
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2024-11-04 12:51